Justin Sun was clearly dumping millions of coins.
He may have run out of money or is afraid to keep selling into this much demand.
You have to remember that Hive is the DPOS chain that defied a hostile takeover and proved the DPOS naysayers wrong flat out. Hive is the chain that is getting exchange listings left and right for FREE. Hive is the chain that no longer has a centralized entity and just dumped 80M coins into a decentralized dev fund. Hive is the chain that users want to power up when it starts gaining value for big upvotes, causing a domino effect of less supply and even more demand.
Hive is also the chain that has massive volatility while the rest of the market remains stagnant.
Traders and speculators want a piece of this crazy action.
This could be a bull trap, but like you, I also think this is a precursor to a huge move back up and I wrote as much in my blog today.
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thanks for being so thorough with your reply. I love learning things. I am having issues knowing when to hold or fold them. I admit that I sold my liquid hive for btc because of the halving. It is my first time ever selling any steem or hive so I am doing it for experience as much as anything else. If I take profit from btc I am reluctant to come back into hive and power up until I feel like it has a future. Steemit at 2 years and 10 months of my time lol. I am wondering what to do with the 8000 plus steem I hold.
I also wonder how to break into the "boys" club here. I have never gotten big votes from anyone in steemit and always felt like an outsider. I feel the same here. I have over a decade of consulting in social media marketing and I was in the twitter beta, gmail beta, google glass beta, reddit original and spent many long days up at Facebook. I don't see what I want to see in a platform yet that will reach critical mass. I want to see it so badly but I just don't and I don't a cohesive support network here. I brought some social media influencers onto steemit and they got run out of town. I took some heat for that and am waiting for the day I can recommend hive. I have high hopes but low expectations so far.
Condenser is a social media technology (sort of) but Graphene is not.
The core code of the Hive blockchain is Graphene, and there will be a lot of dapps here in the future.
Condenser is an over-bloated rushed piece of garbage in my opinion.
We will probably have to clean it up or rewrite it from scratch.
Honestly I don't even think of Hive as social media.
It's just a blockchain that happens to have social media on top of it.
Basically you can think of Graphene as all the backend programming.
It handles all the encryption and the blocks and consensus.
Condenser is more of the frontend like Steemit.com.
I think the node API is considered more Condenser then it is Graphene as well.
Basically Graphene is the blockchain, but Condenser interprets that blockchain information, puts it into a database, and distributes that information to the world. It's all very complicated :D
I guess my point here is... in a couple years you aren't going to have to write a blog and beg for scraps at the dinner table like we all do today. We are going to be providing real work that pays actual wages in the future. You won't have to worry about getting paid subjectively based on the opinions of an elite few; you'll get paid based on the merit of the work you do, as the value of the actual jobs we create will be much easier to measure and compensate.